Exam (elaborations)
TAX3701 EXAM PACK 2025
- Course
- TAX3701
- Institution
- University Of South Africa
TAX3701 EXAM PACK 2025
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lOMoAR cPSD| 48179651Downloaded by tonnie Aredo (tonniearedo28@gmail.com)
, lOMoAR cPSD| 48179651
UNIVERSITY EXAMINATIONS
Examiner: Mr Mhlanguli Nare
Oct/Nov 2024
TAX3701
Taxation of Business Activities
100 Marks
Duration 3 Hours
This paper consists of Fourteen (14) pages including Appendix A
IMPORTANT INSTRUCTIONS:
Assumptions:
1. The VAT rate changed from 14% to 15% on 1 April 2018.
2. All persons mentioned are residents of the Republic of South Africa unless
stated otherwise.
3. SARS = South African Revenue Service.
The answering of this paper:
1. This paper consists of five (5) questions.
2. All questions must be answered.
3. Each question must be commenced on a new (separate) page.
4. All workings, where applicable, must be shown. Where an amount is subject to a
limitation, clearly indicate the application of the limitation. Where any item has a
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TAX3701
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nil effect on any tax, this must specifically be indicated, and a short reason
should
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be provided. All amounts must be rounded to the nearest Rand.
6. You are reminded that answers may NOT be written in pencil.
7. This is a closed book exam
8. Proposed timetable:
(As far as possible, try not to deviate from this timetable):
Question Topic Marks Minutes
1 Value-Added Tax 25 45
Turnover tax, taxation of a business and general
2 22 40
deduction formula
3 Normal income tax liability 35 63
4 Provisional tax 10 18
5 Dividends tax 8 14
TOTAL 100 180
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